- DXY meets support in the 92.40 region on Tuesday.
- US 10-year yields briefly retest the 1.30% level.
- US Consumer Confidence came in at 113.8 in August.
The greenback, when gauged by the US Dollar Index (DXY), manages to rebound from earlier multi-week lows around 92.40.
US Dollar Index offered on month-end flows, risk-on mood
The index exacerbated the Powell-induced selloff to the 92.40 area earlier in the session, levels last seen in early August.
The combination of month-end flows with some profit taking keep weighing on the dollar in the first half of the week, all amidst the recalibration of tapering expectations by market participants.
Yields of the key US 10-year reference, in the meantime, managed to re-visit the 1.30% level, just to lose the grip soon afterwards.
In the US calendar, the always-relevant Consumer Confidence tracked by the Conference Board came in at 113.8, missing estimates. In addition, the Chicago PMI eased to 66.8 in the current month.
US Dollar Index relevant levels
Now, the index is losing 0.19% at 92.52 and faces the next down barrier at 92.40 (weekly low Aug.31) followed by 91.78 (monthly low Jul.30) and finally 91.60 (100-day SMA). On the flip side, a break above 93.72 (2021 high Aug.20) would open the door to 94.00 (round level) and then 94.30 (monthly high Nov.4 2020).
Business News Governmental News Finance News